HSBC boss Michael Geoghegan has confirmed that he will hand over 6 million dollars of his bonus money (£4mil) to charity. The bank said it made 13.3 billion US dollars (£8.8 billion) in underlying pre-tax profits last year.
The chief executive said he would pass on his £4 million bonus payment – which will be paid in deferred shares – to charities around the world over the next three years.
HSBC chairman Stephen Green has also waived his entitlement to annual bonus shares.
(READ More at the UK Metro)
Most excellent! Let’s hope this becomes the norm. Go Michael!